Boralex, Infinergy team up to develop 325 MW of onshore wind in Scotland

Renewables developers Boralex Inc (TSE:BLX) of Canada and Infinergy of the UK have teamed up on plans to develop 325 MW of onshore wind projects in the UK, "essentially" in Scotland.

The companies said today they have formed a 50/50 joint venture to develop the pipeline that includes 10 wind projects ranging from 6 MW to 80 MW in size and being at different stages of development, from early stage to close to getting full authorisation. Boralex will be able to acquire or resell the projects over the coming years.

The partners will invest GBP 6.6 million (USD 8.8m/EUR 7.4m) until the end of 2019 to achieve the development phase of the projects, with Boralex to contribute GBP 5.5 million. The Canadian company is already developing almost 70 MW of other wind projects in Scotland. Infinergy will be the principal developer of the common projects.

Boralex's president and chief executive Patrick Lemaire cited Scotland's strong political will to support all its renewable energy sources and said the partners are committed to develop, build and operate as many projects as possible over the next five to seven years. The Canadian company chose Scotland as it has Europe's most favourable wind resource, and wind energy subsidies are falling across the continent.

Infinergy has so far delivered more than 350 MW of onshore wind projects in the UK, with an 80% success rate. The company was bought out by its management in March from its Dutch shareholders.

(GBP 1 = USD 1.328/EUR 1.128)

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